GR Infraprojects terminates BESS contract with NTPC amid force majeure, war risk

Infrastructure company GR Infraprojects Ltd on Wednesday (September 16) said it has issued a notice of termination to NTPC Ltd with immediate effect in respect of contracts for the EPC package for Battery Energy Storage System (BESS) implementation at NTPC Thermal Power Stations (Lot-1), Mouda Super Thermal Power Station.

The company had earlier intimated the execution of the EPC agreement with NTPC on April 23, 2026. GR Infraprojects said it issued the termination notice in view of the continuing force majeure and war risk circumstances, along with contractual issues arising from the provisions of the agreements.

Dispute resolution mechanism invoked

Following the termination, the company has invoked the applicable dispute resolution mechanism and reserved its rights and remedies under the contract agreements. The financial impact of the termination is presently being assessed, the company said.

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The contracts covered three agreements for the execution of the EPC package for BESS implementation at NTPC Thermal Power Stations (Lot-1), Mouda Super Thermal Power Station. The agreements were executed on April 23, 2026, between G R Infraprojects and NTPC.

Last week, GR Infraprojects said it expects bidding activity to pick up in the second half of the financial year and is maintaining its target of around ₹20,000 crore in order inflows.

The company secured around ₹500 crore of orders in the first quarter, but management expects the pace of awards to improve towards the end of the second quarter and through the third and fourth quarters.

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Ankit Maheshwari, Deputy CFO of GR Infraprojects, said the company remains positive on its order pipeline and continues to target ₹20,000 crore of order inflows for the year.

Maheshwari added, “As I said that pipeline looks promising across the sector. If we look at the businesses in which we are, the total pipeline is approximately ₹6 lakh crore as of now, the visibility which we have, and of which we are focusing on approximately ₹1.5 lakh crore bids. Already, around ₹40,000 crore of bids have been submitted.”

Shares of G R Infraprojects Ltd ended at ₹820.00, down by ₹18.05, or 2.15%, on the BSE.

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